Chart EUR/CHF Update: Limited tests higher
The anticipated test of congestion resistance at 0.9375 is giving way to a minor pullback
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9455 | * | August 2025 (m) high, cong | S1 | 0.9350 | * | break level | |
| R3 | 0.9410~ | ** | 14 Aug YTD high | S2 | 0.9300 | ** | congestion | |
| R2 | 0.9400 | * | congestion | S3 | 0.9290 | * | 38.2% ret of May-Aug rally | |
| R1 | 0.9375 | congestion | S4 | 0.9250/55 | ** | congestion; 50% ret |
Asterisk denotes strength of level
10:50 BST - The anticipated test of congestion resistance at 0.9375 is giving way to a minor pullback, as negative divergence develops on intraday charts, with prices currently trading around 0.9360. Daily readings have turned mixed/negative and broader weekly charts are under pressure, suggesting any tests above 0.9375 should give way to renewed selling interest towards strong resistance at congestion around 0.9400 and the 0.9410~ current year high of 14 August.
Following cautious/choppy trade, fresh losses are looked for. A later break below 0.9350 will help to stabilise price action. But a further close below support at the 0.9290 Fibonacci retracement and congestion around 0.9300 will add weight to sentiment and extend mid-August losses towards 0.9250/55.